AGA Expects Americans to Wager $1.76B on Super Bowl LX

A few days after the Legal Sports Report and the Sports Betting Alliance released their projections regarding Super Bowl betting, the American Gaming Association (AGA) published its own report. In addition to that, the association warned that the growing prediction markets sector might affect bettors’ perceptions.

AGA Expects Record Betting Volume, in Line with Other Forecasts

In its report, the AGA said that it expects American sports bettors to wager a record $1.76 billion on Super Bowl LX via legal platforms. This figure is mostly in line with the aforementioned earlier report, further highlighting experts’ confidence in the sector’s momentum.

For context, AGA’s figure includes all forms of legal betting, including retail, online, and tribal wagering.

Bill Miller, AGA’s president and CEO, commented on the matter, saying that the Super Bowl is known for its ability to bring sports fans together. He said that this provides fans who wish to get closer to the sport to bet legally and have fun while supporting a safe and responsible market.

However, Miller noted that the emergence of prediction markets has made things more confusing.

Prediction Markets Confuse Players, AGA Says

In its release, the AGA labelled prediction markets as platforms that mask “sports betting as an investment rather than entertainment.” The association expressed significant concerns about this new vertical, which lacks the maturity of sports betting and, by extension, is not equipped with responsible gaming tools.

The AGA cited statistics suggesting that 78% of prediction markets users are in favor of involving state gaming regulators and having them resolve disputes, despite the fact that the sector is under the CFTC’s purview and not that of gambling authorities.

The AGA noted that “these findings underscore widespread confusion among sports event contract users on the regulatory oversight governing prediction markets.”

Many Users Consider Prediction Markets as Gambling

The AGA used the opportunity to highlight other concerns and fan statistics, saying that almost three in four prediction markets users consider these products to constitute betting rather than an investment. The AGA said that only 28% of sports event contracts users describe their activity as investing. To put things into perspective, only 9% of sportsbook users do so.

Additional data suggests that almost a third of event contract users encounter trading or investing comparison in platform messaging (7% for sports bettors). A quarter of them also say that they fund their play via their investment budget (9% for sports bettors).

Last but not least, the AGA said that only 28% of sports event contract bettors say responsible gaming tools are easy to find on their platforms. For comparison, 58% of sports bettors have no issue finding such tools on their platforms.

Miller said: “This research reinforces why state- and tribal-regulated sportsbooks are critical, offering strong oversight and consumer protections that prediction markets simply do not match.”